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Middle East Power And Control Cable Market Set to Flourish by 2026
Published Date: 2020-02-18
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According to the Graphical Research new growth forecast report titled “Middle East Power And Control Cable Market Value By Product (Power Cable, Control Cable), By Voltage (HV, MV, LV (LV Power, LV Control)), By Application (Utilities, Industrial (Power Plants, Oil & Gas, Cement)), Industry Analysis Report, Regional Outlook, Price Trends, Competitive Market Share & Forecast”, to Flourish during 2020-2026.
Middle East Power and Control Cable Market Share is anticipated to witness substantial growth on account of favorable government policies toward upgradation of existing T&D infrastructure. Moreover, the growing inclination towards the expansion of existing system to cater the demand-supply mismatch will further boost the product installation over the forecast period.
Growing emphasis of smart systems to establish effective communication network will propel the control cable market in the middle east. High efficiency coupled with the versatile usage will drive the implementation of these cables across various upcoming smart city projects. Moreover, extensive applications across various data centers will further fuel the product demand over the forecasted period.
Rising investments towards development of high capacity HV & EHV networks to meet growing electricity demand from industrial centers will enhance the deployment of HV cables. These cables are mainly designed for long distance power transmission with low losses . The expansion and development of new transmission networks to compensate the requirement of electricity across the region will further boost the product requirement.
The ongoing efforts towards the deployment of high efficiency cables in the upcoming smart cities will rise the demand of the product. The reduced installation and maintenance cost will further boost the product deployment in the region. Moreover, continuously growing regional population along with surging demand for uninterrupted and reliable power will enhance the Middle East power and control cable market outlook over the forecast period.
The rising industrialization along with subsequent increase in power demand will enhance the Saudi Arabia power and control cable market. Moreover, efforts to reduce the dependency on existing conventional power stations will further drive industry growth. For instance, according to Saudi Vision 2030 established in 2016, the regulators have set target to produces 30% of its energy from conventional resources by 2030.
The aggressive research and development measures by key players to maintain high quality standards and reduce existing cost structure will raise the industry potential over the forecast period. In addition, the rising investments towards reconstruction of war affected countries along with expansion of existing of power distribution systems will fuel the Middle East power and control cable industry size significantly.
The key players operating across Middle East Power and Control Cable industry are LS Cable & System, Southwire company, Saudi Cables, Ducab Cables, Oman Cables, El-Sewedy Cables, Nexans, Prysmian, Sumitomo Electric, and Riyadh Cables Industries amongst others.
Middle East Power and Control Cable Market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2015 to 2026, for the following segments:
Middle East Power and Control Cable Market Share, By Product
- Power Cable
- Control Cable
Middle East Power and Control Cable Market Size, By Voltage
- LV Power
- LV Control
Middle East Power and Control Cable Market Share, By Application
- Power Plants
- Oil & Gas